Electronic bill presentment and payment is widely used. Portfolios of accounts may need to be converted to new account numbers or structures. Currently, such conversion is typically handled outside of the electronic bill payment system. Balers may develop proprietary solutions requiring manual research and posting of payments, resulting in delay, expense, and potential errors.
Parties using electronic payment systems, such as on-line bill paying, may not always review paper statements or notices received from billers, and thus may not update the biller account when changes occur, causing payments to fail. Such payments may become unpostable, received by the wrong party, or rejected by the system.